Markets witnessed a volatile session on Thursday with Nifty not only recouping early morning losses but ended with gains with 200 points in Nifty futures. The breakout has been confirmed after closing above 22,250 in Nifty futures and is expected to force a short covering rally towards 23,200 in the coming days. Weakness in the Japanese Yen in the past few days has been a key trigger for sustainable gains in the Indian markets. We expect laggard sectors like Banking and FMCG to participate in the up move in the coming days while Reliance maintains its leadership.
Nifty Futures Chart
Stocks to watch
Positive Read through
- IRCTC – Partners with Swiggy Foods to supply & deliver pre-ordered meals at 4 stations.
- Godrej Properties – Bombay HC rules in favor of co with respect to 2 plots in Navi Mumbai.
- Bandhan Bank – Appoints Rajeev Mantri as CFO with effective from February 22, 2024.
- Vodafone Idea – To consider fundraising proposal via shares and bonds on Feb 27.
- RVNL – JV bags Rs. 1.74 bn order from MP Power transmission.
- RBL Bank – Mathew Cyriac buys 3.27 mn shares at Rs. 265, a stake now close to 3 pct.
- Angel One – To raise to Rs. 20. bn via preferential issue, QIP, or other modes.
- Eureka Forbes – Promoter Lunolux sells nearly 9 pct stake via block deals.
- Sona BLCW – Gets certification under auto production linked incentive scheme.
- PFC – To consider fundraising proposal for FY25 on Feb 29.
- Tata Elxsi – Forms partnership with Accuknox for 5g managed security Svcs.
- Bharat Forge – The Company invests EURO 15 mn in unit Bharat Forge Global.
- GMDC – Board approves Rs. 30.41 bn capital outlay for FY25.
- IRB Infra – Board approves raising up to USD 550 mn via forex bonds.
- Dilip Buildcon – Arm executes concession agreement worth Rs. 2.70 bn with Goa Government.
- Indiabulls Housing – Raises Rs. 36.93 bn via rights issue.
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 1499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
